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Recent Articles
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Dividend Increases/Decreases for the Week of June 28
Jun 28, 2024
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Let's take a look at firms raising/lowering their dividends this week.
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Shares of Walgreens Boots Alliance Collapse
Jun 27, 2024
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Image: Walgreens’ shares have been under constant pressure for some time now.
On June 27, Walgreens Boots Alliance reported mixed third quarter results for fiscal 2024. Though net cash provided by operating activities and free cash flow improved in the fiscal third quarter, the better cash management was overshadowed by lowered guidance. The company lowered its fiscal 2024 adjusted earnings per share guidance to the range of $2.80-$2.95 “reflecting challenging pharmacy industry trends and a worse-than-expected U.S. consumer environment.” Consensus had been looking for $3.22 per share in adjusted earnings for the fiscal year. We’re not interested in Walgreens at all and think the worst may still be ahead for the company. Shares yield ~8.5% at the time of this writing.
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General Mills' Organic Performance Reveals Underlying Weakness
Jun 26, 2024
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Image Source: General Mills.
On June 26, General Mills reported mixed fourth-quarter fiscal 2024 results that showed weakness on the top line, but a modest beat relative to the consensus forecast on the bottom line. Looking to 2025, General Mills’ organic sales are expected to be flat to up 1%, a target that is achievable, but one that may prove optimistic given trends in the fiscal fourth quarter of 2024. Free cash flow conversion is expected to remain robust at more than 95% of adjusted after-tax earnings. Shares yield 3.5% at the time of this writing.
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FedEx’s Cost Initiatives Drive Strong Fiscal 2025 Guidance
Jun 26, 2024
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Image Source: FedEx.
On June 25, FedEx reported better than expected fourth quarter results for fiscal 2024. The company continues to focus on becoming more efficient, closing facilities as well as retiring inefficient aircraft. Shares yield ~2.1% at the time of this writing.
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